Breaking News

A Rocky First Day for Coty's IPO

June 14, 2013

Shares fall—but hopes are high.

Shares of beauty products company Coty dropped in their first day of trading on the New York Stock Exchange. According to reports, the shares slipped 14 cents to close at $17.36 Thursday after falling as low as $16.90 earlier.


Coty Inc.'s initial public offering of about 57.1 million shares raised nearly $1 billion for some of its stockholders. The offering priced at $17.50, the midpoint of its projected range of $16.50 to $18.50 per share. Coty won't receive any proceeds from the offering, and the underwriters have a 30-day option to buy an additional 8.6 million shares, added reports.

Mr. Michele Scannavini, CEO, accompanied by Coty’s Executive Committee and a group of business partners, celebrated the company’s first day of trading by ringing the NYSE Opening Bell and visiting the trading floor for the stock opening.

“Today marks an important milestone in the continued growth of Coty, as we list on the prestigious New York Stock Exchange,” said Scannavini. “We are proud of Coty’s many accomplishments and proven industry track record, and are enthusiastic to embark on this exciting new chapter.”
blog comments powered by Disqus
  • Cosmetic Chemists Head to Orlando Next Month

    Cosmetic Chemists Head to Orlando Next Month

    September 26, 2016
    Organizing Chair Guy Padulo explains why you should attend the IFSCC Congress.

  • Restoring Rembrandt

    Restoring Rembrandt

    Christine Esposito, Associate Editor||September 26, 2016
    Ranir LLC has acquired Rembrandt, an iconic name in teeth whitening, and plans to make it a staple in the value segment.

  • Active Agents

    Active Agents

    September 19, 2016
    On the surface, surfactants may seem staid, but the market, and the supplier activity driving it, is bubbling.

  • Back to School

    Back to School

    Tom Branna, Editorial Director||September 1, 2016
    It may be September, but class was in session this summer during the Private Label Manufacturers Association’s Executive Educ

  • A Sweet-Smelling Sanctuary

    A Sweet-Smelling Sanctuary

    Melissa Meisel, Associate Editor||September 1, 2016
    Home fragrance is enhanced by aromatic developments in delivery and components.

  • How Green Is Your Surfactant?

    How Green Is Your Surfactant?

    Tom Branna, Editorial Director ||September 1, 2016
    Suppliers offer a range of solutions to help household and personal care product formulators develop formulas